Half of the 16 publicly traded nonbank mortgage lenders reported net losses in the first quarter. The MBA found independent mortgage bankers lost an average of $1 million, largely due to hugely unprofitable loan production. (Includes data chart.)
Although top-ranked TD Bank trimmed its portfolio substantially, a handful of banks increased their ABS holdings in early 2023. (Includes two data charts.)
Fannie and Freddie reduced the fee for commingled collateral in Supers starting in April, and new issuance showed more diversity — but nothing like the levels before mid-2022. (Includes two data charts.)
PennyMac appeared to gain the most from Wells Fargo's exit from the correspondent market during the first quarter. Slumping refinance business hit the retail channel hard. (Includes six data charts.)
The failures of SVB and Signature Bank were the major causes of another decline in aggregate bank MBS holdings, but the fair value of the industry's portfolio remains well below amortized cost. (Includes two data charts.)
Conventional-conforming mortgages remain the biggest sector in the originations market, and production was down 12.7% in the first quarter. Meanwhile, ECM lending is getting more attention. (Includes two data charts.)